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Companies pay 44% more income tax within the reform

Payment of Income Tax (ISR) for each entity increased, on average, 44% annually in the first quarter of 2015, according to updated figures from the Ministry of Finance and Public Credit.

Each company’s income tax expenditure was about 126,500 pesos from January to March, while in the same period in 2014 it was of 87,000 pesos.

The increase in payments reflects the before and after of the tax reform approved at the end of 2013. The total gathered from the income tax of legal person increased by 53% in the first quarter of 2015, where companies paid 215,400 million pesos for this concept, and in the same period of 2014, 140,000 million pesos were collected.

The growth rate of this tax revenue was higher than the number of active legal entities from 2013 to 2014, 6.3% annually. The changes for which the companies had to pay more income tax deductions were the limit to the deduction of employee benefits and the elimination of immediate deduction on purchase of fixed assets.